Calculate the amount of accounts receivable, Accounting Basics

Cowhand's Bar-B-Q House went into business on January 1, 2009. The following information is available at December 31, 2009:

Sales revenue for the year


Cash on hand at 12-31-2009


Contributed capital


Wages payable at year end


Cash received from customers during the year


Dividends paid during the year


Expenses incurred during the year (depreciation expense = $0)


Cash paid to buy long-term assets during the year


Accounts receivable at year-end



Determine the correct amount for each of the following:

a. What is the amount of net income?

b. What amount should be reported for retained earnings at year-end 2009?

c. What is the amount of accounts receivable at year end?

Posted Date: 2/22/2013 5:28:06 AM | Location : United States

Related Discussions:- Calculate the amount of accounts receivable, Assignment Help, Ask Question on Calculate the amount of accounts receivable, Get Answer, Expert's Help, Calculate the amount of accounts receivable Discussions

Write discussion on Calculate the amount of accounts receivable
Your posts are moderated
Related Questions
Q. What is Marginal cost and marginal revenue? Marginal cost is the extra cost incurred by addingone more item. Marginal revenue is revenue from selling one more item. Economic

Billable expenses are those expenses incurred by you on behalf of your client in performing duties / supply and service. These expenses are recoverable from your customer by way of

Q. Explain about Manufacturing companies? Manufacturing companies purchase materials convert them into products and then sell the products to other companies or else to the fin

SCENARIO In May of the current year, your employer received a PIER report from the CRA that identified Canada Pension Plan (CPP) contribution deficiencies for employees in the org

Ower invested cash in the company along with equipment at market value, the amount is considered part of capital or revenues?

Question: Artarmon Ltd uses a job-order costing system and a predetermined overhead rate based on direct labour cost. Estimated manufacturing overheads for the coming year were

with help of illustrations,comment on final accounts

International Capital Budgeting Question 1. How does international capital budgeting differ from domestic capital budgeting? Many firms, when assessing international proj

Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.